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NCLT Mumbai Grants First-Motion Approval for L&T Realty Demerger into Wholly Owned Subsidiary
Case Law Details
- Case Name
- Larsen & Toubro Ltd. Vs L&T Realty Properties Ltd. (NCLT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
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- Courts
- NCLT
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Larsen & Toubro Ltd. Vs L&T Realty Properties Ltd. (NCLT Mumbai)
The National Company Law Tribunal (NCLT), Mumbai Bench, passed an order on a first-motion application filed under Sections 230-232 of the Companies Act, 2013 in relation to a Scheme of Arrangement between Larsen & Toubro Limited (Transferor Company) and L&T Realty Properties Limited (Transferee Company), a wholly owned subsidiary of the Transferor Company. The Scheme contemplates the transfer and vesting of the Realty Undertaking of the Transferor Company into the Transferee Company as a going concern on a slump s...
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